Cash Converters Personal Loan

Information verified correct on April 26th, 2017

Borrow up to $2,000 from one of Australia's most established short term lenders.

If you're in need of financing and want to be sure you're borrowing from a trusted lender, you might want to consider a personal loan from Cash Converters. It's been in the lending business since 1984, and now Cash Converters is offering a personal loan that you can conveniently apply for online. Whether you need funds to cover an unexpected expense, you didn't budget well enough to see you through the month or if you need to make a large purchase, Cash Converters has a loan that you might be eligible for.

Product NameCash Converters Personal Loan
Min Loan Amount$400
Max. Loan Amount$2,000
Loan TermUp to 12 months
Turnaround Time24 - 48 hours
Costs20% establishment fee + 4% monthly fee
RequirementsYou must be over 18 and have a steady income of at least $300 per week
Available to Centrelink borrowersYes


  • Easy application
  • Quick turnaround
  • Apply online or instore


  • 20% establishment fee
  • 4% monthly fee
  • Dishonour fee of $33
  • 18 years over
  • Residing in Australia

How does a Cash Converters Personal Loan work?

This loan is available for a longer term than what is on offer with similar products. You can apply for up to $2,000 and repay it over a period of up to 12 months. You'll need to pay a fee to establish the loan and also ongoing monthly costs.

Features of a Personal Loan from Cash Converters

  • Fast application. The online application process is quick and can be completed in about five minutes.
  • Loan amount. You can apply for a loan between $400 and $2,000.
  • Quick turnaround. After you've signed your electronic loan contract, you will be sent your funds. If you bank with one of the Big Four you can receive your loan amount within a few hours, and by the latest the next business day.
  • How long you have to repay it. Repayment terms vary depending on your individual loan contract, but your loan will be repaid over a period of 6 months to 12 months.

Compare other payday loans

Whilst we don't compare Cash Converters Personal Loan directly, here are some other loans that are similar.

Name Product Max. Loan Amount Term of Loan Turnaround Time Costs Product Description
Sunshine Short Term Loans
9 weeks
30 Minutes - conditions apply
20% of loan amount + 4% of loan amount each month
Apply online with Sunshine Loans and you could borrow up to $2,000 paid directly into your account. Family Business since 1999.
Nimble Short Term Loan
62 days to 1 year
1 hour - conditions apply*
20% of loan amount + 4% of loan amount each month
Apply for a short term loan and you could borrow up to $2,000
Ferratum Cash Loans
Up to 6 mths
Same Day if approved
20% of borrowed amount + 4% of borrowed amount each month
A small loan from Ferratum lets you borrow up to $1,900 without a credit check
Cash Train Loans
10 weeks or 3 months
1 Business Day
20% of principal amount (establishment fee) + 4% monthly charge
Apply for a Cash Train loan and get up to $2,000 sent straight to your bank account. Fast online application

Compare up to 4 providers

How much does it cost to borrow?

Cash Converters Personal Loans come with a 20% establishment fee + 4% monthly fee. The longer you take to repay the loan, the more you'll end up paying in monthly fees. If you fail to make your repayments on time, a dishonour fee of $33 applies. There are no additional daily fees and no rescheduling fees.

Are you eligible for a Cash Converters Personal Loan?

Each loan application is assessed by a representative from Cash Converters, who will establish your ability to repay the loan. The minimum eligibility criteria are that you are over the age of 18 and reside in Australia, whereas everything else is judged on a case-by-case basis.

  • If you receive Centrelink payments: You can apply if you receive Centrelink payments, but what you borrow may be limited so that your repayments in any period do not exceed 25% of your gross income. This includes repayments to other lenders as well as the new loan you're applying for from Cash Converters.
  • If you're in a Part 9 Debt Agreement: You aren't eligible for a Cash Converters Personal Loan. However, if you have been successfully discharged from a Part 9 Debt Agreement you are able to apply.
  • If you're not an Australian resident: You're able to apply for this product if you're a resident or a 457 Visa holder. You aren't eligible for the Cash Converters Personal Loan if you aren't a resident, but you are eligible to apply for a Cash Converters Cash Advance in-store.
  • If you have bad credit: Cash Converters will consider your current financial situation when you apply, but are generally more lenient than the banks when it comes to bad credit. If they see you will be able to manage your loan, your application will be considered.
  • If you're a casual employee: You need to earn at least $300 per week in order to be assessed, but you can still apply for a Cash Converters loan.

How you can apply

You can apply for a Cash Converters Personal Loan in-store or online. Applying is easy and the form shouldn't take longer than five minutes. To be eligible, you need to be over the age of 18 and reside in Australia. Have the following on hand to complete your application:

  • Your bank account history for the last 90 days where your income is deposited into
  • A copy of your Medicare card
  • If you receive Centrelink payments, you'll need a current income statement.

Once you've filled out the application form, Cash Converters will check the information and see if you fit their lending criteria. If you're approved, you'll be sent an electronic loan contract, and once you've signed it your loan amount will be transferred to you within 24 - 48 hours.

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93 Responses to Cash Converters Personal Loan

  1. Default Gravatar
    Robbie | February 10, 2017

    I want to borrow 400 how much will my repaments be for a fortnightly and if i want to pay it of fast what is the total repment i owe

    • Staff
      Anndy | February 10, 2017

      Hi Robbie,

      Thanks for your question.

      Using the loan calculator on Cash Coverters’ website, a $400 loan with 12 months repayment period will have a weekly repayment of $13. If you would like to pay your loan earlier, you may be entitled to a discount. Please note that we do not represent Cash Converters so we cannot provide complete details of this discount. You may want to directly get in touch with them to inquire.

      If you want to compare other short-term loan, you can check and compare your options on this page.


  2. Default Gravatar
    Julie | January 2, 2017

    Just interested in finding out if your establishment fee can come out of your loan amount and how long if you apply online dose it take to find out if you have been approved.

    • Staff
      Anndy | January 2, 2017

      Hi Julie,

      Thanks for your question.

      With Cash Converters, the establishment fee is deducted from your loan amount. Say, your loan amount is $5,000, you’ll only get $4,600 credited to your account.

      The sooner you completed the required documentation, the sooner you’ll be approved. Depending on who you bank with and if you are approved, you should be able to receive the borrowed funds in your account within 24 hours of submitting your complete application.


  3. Default Gravatar
    Jacinta | December 12, 2016

    Hi I was wondering how much a fight night do you pay for a $600 loan?

    • Staff
      Anndy | December 12, 2016

      Hi Jacinta,

      Thanks for your question.

      For a $600 loan with a 12-month term, fortnightly payment is about $38. You can directly visit Cash Converters website and use their loan calculator to know your repayments for a particular loan amount.

      You may also want to compare other short term loans on this page.


  4. Default Gravatar
    Albert | November 18, 2016

    What would be for monthly repayment for borrowing $2000.00 and can I get a plan that is longer than 12 months. Thank You

    • Staff
      Anndy | November 18, 2016

      Hi Albert,

      Thanks for your question.

      If you are planning to apply for Cash Converters Personal Loan for $2,000 and assuming you get a 12-month term, your weekly repayment will be $65. This is using the repayment calculator on their website.

      Unfortunately, Cash Converters only offer 12-month loan term.


  5. Default Gravatar
    Kiah | November 10, 2016

    I applied for a loan yesterday and it stated that I was “provisionally approved” and haven’t heard anything since, how long does it take for them to approve me?

    • Staff
      Harold | November 10, 2016

      Hello Kiah,

      Thank you for your question.

      Please note that is a financial comparison and information service and does not represent any loan company.

      Since you applied already, whether online or in-store, your application will be assessed within 24 business hours after all necessary documents are received.

      I hope this has helped.


  6. Default Gravatar
    leonie | November 2, 2016

    Hi I was wondering if im eligible for another $600 loan thank you

    • Staff
      May | November 2, 2016

      Hi Leonie,

      Thank you for your question.

      If you wish to apply for another loan with Cash Converters, please contact them directly to process your application.


  7. Default Gravatar
    Ben | October 27, 2016

    Can I borrow another 1500 to pay off my bills

    • Staff
      Anndy | October 27, 2016

      Hi Ben,

      Thanks for your question.

      If you already previously borrowed from Cash Converters, they follow strict guidelines when it comes to assessing every loan and this includes strict limits on the number of loans a customer can have at one time. If you’d like to know if you are eligible for another loan, you can contact the store that approved your current loan. If you applied online, you may call 1800 170 086.


  8. Default Gravatar
    James | October 9, 2016

    Hi there how many loans can one person have with you guys at a time?

    • Staff
      Elizabeth | October 10, 2016

      Hi James,

      There’s no specific limit, but if you apply for a loan when you’re currently repaying one, you will be assessed as to your ability to manage both. Cash Converters says it has “strict guidelines” on approval of multiple loans, but to contact the store you applied at or its customer service team to find out if you’re eligible.

      Hope this helps,


  9. Default Gravatar
    Kelly | September 10, 2016

    I have a personal loan through Cash Converters but wasn’t given any paperwork to show me how much I’m paying each fortnight and how long for?

    • Staff
      Elizabeth | September 12, 2016

      Hi Kelly,

      You’ll need to contact Cash Converters directly to find out this information, but if you received any communication from them – email, SMS – your repayments may be listed there. You can contact Cash Converters on 1800 170 086, or email Otherwise contact the store where you applied for your loan to find out your remaining balance.

      Hope this helps,


  10. Default Gravatar
    Eldar | August 16, 2016

    Can I borrow money from you?
    I am a NORWEGIAN man living in Thailand and I have my retirement from Norway (25000 NOK) every mnd. but I need $2000 to finish my house her.
    I have a bad credit record so I can not borrow in Norway.
    And here in Thailand is it possible?
    Look forward to hear from you !!

    • Staff
      Anndy | August 16, 2016

      Hi Eldar,

      Thanks for your question.

      Please note that is a financial comparison and information service and not a lender.

      To be eligible to apply for Cash Converters Personal Loan, you need to be a resident of Australia.


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